CIBC Lowers Whitecap Resources (TSE:WCP) Price Target to C$7.50

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Whitecap Resources (TSE:WCP) had its price target decreased by CIBC from C$9.00 to C$7.50 in a research report report published on Thursday, BayStreet.CA reports.

Several other research firms have also recently issued reports on WCP. National Bank Financial cut their target price on Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada reissued a buy rating and issued a $2.50 target price on shares of in a research note on Thursday. Canaccord Genuity reissued a buy rating and issued a $7.50 target price on shares of in a research note on Tuesday, July 9th. Raymond James reissued a hold rating on shares of PrairieSky Royalty in a research note on Thursday, July 11th. Finally, BMO Capital Markets reissued a hold rating and issued a $9.50 target price on shares of Vicon Industries in a research note on Friday, June 14th.

TSE WCP opened at C$4.20 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 42.76. The company has a market capitalization of $1.74 billion and a PE ratio of 100.00. Whitecap Resources has a 1 year low of C$3.80 and a 1 year high of C$9.02. The business has a 50-day simple moving average of C$4.28.

Whitecap Resources (TSE:WCP) last posted its earnings results on Wednesday, May 1st. The company reported C($0.13) earnings per share (EPS) for the quarter. The company had revenue of C$354.86 million during the quarter. As a group, equities analysts anticipate that Whitecap Resources will post 0.44 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.0285 per share. This represents a $0.34 annualized dividend and a yield of 8.14%. This is a boost from Whitecap Resources’s previous monthly dividend of $0.03. The ex-dividend date is Tuesday, July 30th. Whitecap Resources’s payout ratio is presently 765.24%.

In other news, Senior Officer Thanh Chan Kang acquired 50,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were acquired at an average cost of C$4.00 per share, with a total value of C$200,000.00. Following the transaction, the insider now owns 555,728 shares in the company, valued at approximately C$2,222,912. Also, Senior Officer David Michael Mombourquette acquired 11,900 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average cost of C$4.20 per share, for a total transaction of C$49,980.00. Following the completion of the transaction, the insider now owns 291,900 shares in the company, valued at approximately C$1,225,980. Over the last ninety days, insiders have acquired 74,495 shares of company stock worth $308,485.

About Whitecap Resources

Whitecap Resources Inc acquires and develops petroleum and natural gas properties in Canada. Its principal properties are located in West Central Alberta, Northwest Alberta and British Columbia, Southeast Saskatchewan, West Central Saskatchewan, and Southeast Saskatchewan. Whitecap Resources Inc is headquartered in Calgary, Canada.

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